UK Money News
23rd November 2007
Brits 'must save early for retirement'
UK consumers should start saving for their retirement at the first possible opportunity in order to avoid needing help with money in their old age.
Such is the opinion of personal finance provider Prudential, which has warned this week that too many people are planning to rely on pension provision from the state.
According to the company, putting a degree of funds away in an individual savings account or across a variety of assets can be a viable means of creating a financial pot to fund retirement.
Ali Crossley, retirement insurance director at the firm, commented: "The sooner people start to plan for their retirement the better; the more they put aside for their retirement the better and the better chance they have of having a decent income in their retirement."
According to the firm's Class of 2008 Retirement Report, the average age at which men give up work in 60, while women generally cease working at 58.
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